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S Chand to acquire minority stake in Government Test Prep segment focussed Edtech Startup - ixamBee

S Chand and Company Limited, along with its subsidiaries has agreed to acquire a minority stake in AToZLearn Edutech Private Limited, a differentiated Edtech company that makes exam preparation 50% faster. The round also includes investments from Directors of S Chand, Key Managerial Personnel of S Chand, Mukesh Sharma Family Trust, Inflection Point Ventures (IPV), Firstport Capital, Keiretsu Forum and Others.

ixamBee (AToZLearn Edutech Private Limited) was founded by Chandraprakash Joshi, Arunima Sinha and Sandeep Singh in December 2016 in Delhi NCR. ixamBee has carved a niche for itself by creating a superior 'ixamBee Learning Experience (iLX)' that helps small town students in preparing for job related exams with a special focus on government jobs and makes their exam preparation 50% faster.

The company's objective is to help unskilled graduates and undergraduates prepare effectively for competitive Government examinations like those conducted by banks, insurance companies, Railways etc. ixamBee had earlier raised funds from Mumbai Angels Network, JITO Angel Network, Keyur Joshi (co-founder MakeMyTrip) and a few noted alumni of the ISB, Hyderabad.

The Investment Rationale for the investment is as follows-:

  1. Addressable market opportunity is large. In India, over 80 million graduates are preparing for various jobs in public and private sector. Most of ixamBee's users come from Tier 2/3 towns, who do not get quality education or access to the right guidance.

  2. Focus on students from 'Bharat'. Their exam preparation platform 'ixamBee' focuses primarily on rural and semi-urban students. There are exam-focused learning materials on the platform like mock tests, online test series, online practice tests, and speed tests etc which are created by in-house experts.

  3. Solution to expensive coaching institutes and lack of choices for the girl child. Students relocate to bigger cities for studies and spend high amounts for coaching and stay during preparation for these exams. Additionally, we see a gap in the sense that many parents in these cities do not send girls to other cities even when they can afford it financially for exam preparation. ixamBee is providing a solution to this need in the market.

  4. Experienced team with a proven business model. The team has pedigree and has done well to scale business to this level with minimum investments.

  5. Synergies with the S Chand group for the joint development of high quality content for S Chand's Test Prep segment. They also envisage quicker Go to Market for new product launches in this segment.

Key strengths for AToZLearn Edutech Private Limited are as follows-:

  1. Affordable Pricing.

  2. Highly Scalable Model.

  3. Strong Founding team. AToZLearn Edutech Private Limited was founded by Industry professionals who also have strong professional experience in this field. a. Mr. Chandraprakash Joshi – Co-Fo